1505 Elm St APT 1603, Dallas, TX, 75201 | 8.45% Rental Yield

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1505 Elm St APT 1603, Dallas, TX, 75201 | 8.45% Rental Yield | Ziffy

For Sale

Ziffy Mortgage

NMLS #2625701

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Ziffy AI Summary

A quick, investor-focused snapshot highlighting income strength, yield potential.

Key metrics	Value
Price	$399,900
Est. Rent	$3,200/mo
ROI	18%

Attractive rent-to-price ratio for income stability
Good fit for DSCR financing with healthy coverage

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Investment Highlights

Investment property for sale in Dallas at 1505 Elm St APT 1603, Dallas, TX, 75201 listed at $395,000 pairs $2,781/mo rent with a $1,933/mo payment. Total monthly income runs $2,781/mo. Return on cash invested measures 19.66% in year one, and rental yield registers 8.45% at a $395,000 basis. Equity gained on principal adds $2,549/yr, and annual property appreciation at 5% supports $109,131 by year five. Five-year ROI tracks 102.7% and total cumulative return in cash totals $134,478. Financing can be arranged with Ziffy Mortgage’s DSCR loan, which qualifies using $2,781/mo property income relative to a $1,933/mo payment rather than your personal income (W2, Tax Returns, Paystubs, or 1099).

Condo

Built in 1957

10,018 sqft lot

$N/A/sqft

No HOA

More details about the property

Enjoy downtown living at its finest! This 16th floor penthouse is located in the iconic George Dahl-designed building & adjacent to The National & Thompson Hotel. The thoughtfully renovated corner unit has sweeping city views throughout, & includes 2 beds & 2 baths with no detail spared. The fully updated kitchen overlooking the spacious living area has GE Monogram Appliances (2019) including: Built in Fridge, Oven, Cooktop, Warming Drawer, Microwave, & Dishwasher, as well as marble countertops, a large island, & wine refrigerator. The dining room features a built-in bar with additional wine & beverage refrigerators. Enjoy a large primary suite with a spa-like bathroom & stunning downtown views. The oversized, walk-in, custom closet has a seating area & is attached to the Laundry Room. Other features include: New Hot Water Heater (2019), Mechanical Unit Replaced (2023), Black Out Shades, & Large Storage Unit Located on the same floor. Building Amenities Include: 24-hour valet & concierge service (up to 5 guests-no tipping), wine cellar & tasting room, rooftop pool, renovated workout center, private dog run, & more.

Neighborhood Data

Neighborhood data shown for ZIP Code: 75201, Dallas, TX area.

Housing Distribution

Housing Statistics

Category	Value
Total HU (Housing Units)	14,347 (100%)
Owner Occupied HU	1,097 ( 7.6%)
Renter Occupied HU	10,921 (76.1%)
Vacant Housing Units	2,329 (16.2%)
Median Home Value	$775,794
Average Home Value	$999,701